New Downtown Tower to be Built in Los Angeles

Downtown Los Angeles’ (DTLA) Skyline will once again be renewed as work began on a new tower. The skyscraper is estimated to cost a cool $100 million and to open early in 2015. The tower will be home to 283 luxury apartments. The investor says that he believes that looking forward DTLA will be the place to live.

DOWNTOWN LOS ANGELES-- The Downtown skyline is changing once again.

On Monday, Jan. 28, Canadian developer Onni Groupbegan construction on a 32-story high-rise at 888 S. Olive St. The development, which according to a project press release is estimated to cost more than $100 million, will create 283 one- to three-bedroom luxury apartments. The building is slated to open in early 2015.

“We believe that at project completion... Downtown Los Angeles will be the place to live in the region and we look forward to being a part of the continued transformation,” said Apriano Meola, the company’s vice president of USA Operations, in the release.